Posts tagged ‘June’

Here we are, a third of the way through July and I’m just getting around to posting the June stats! I’ve been a bit busy lately, with listings and with buyers. The market seems to be ticking along, though no sales records are likely to be broken. The weather in June was the best in recent memory, despite a rainy period mid-month. How did the real estate market stack up? Read on… Read more

I’ve lived in coastal British Columbia my whole life, and June is a fickle beast indeed. It’s often cool and wet, and this year – well – this year was something else altogether. The weather people crunched the numbers and apparently it was the third-least-sunniest June since 1969. We also got about 33% more rain than normal. It didn’t seem to dampen the real estate market in Sooke, however, which was quite busy overall. Let’s have a look, and then check some graphs for the year so far. Read more

Sales Soften, Prices Remain Stable

July 2, 2008

Sales of homes and other properties in the Greater Victoria area softened last month though prices continue to remain stable. Victoria Real Estate Board President, Tony Joe, notes that the modest decline in sales from May to June followed a similar pattern to last year. “There was a total of 723 sales of homes and other properties in June through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®) compared to the 770 sales in May. Although sales last month were down substantially compared to the 949 sales in June of last year, it is important to remember that 2007 was an exceptional year for the local real estate market.”

Joe notes that prices remain stable. The overall average price of single family homes in Greater Victoria last month was $580,104; the six-month average was $600,740 though the median was considerably lower at $538,000. “There will always be month-to-month fluctuations in prices, but when we consider that the six month average in January was just over $586,000 we see that prices have remained remarkably stable this year,” said Joe.

The number of properties available for sale continued to increase last month rising to 4,513 – a 27 % increase compared to June last year. “With more properties from which to choose, buyers clearly feel less pressure to make a quick decision, though sellers who price their homes realistically can still expect strong interest,” said Joe.

The average price of all condominiums sold in June was $319,943; the average for the last six months was $330,992. The median was again lower at $295,000. The average price of all townhomes sold last month was $431,992; the six month average was $432,152. The median price was $399,500.

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This blog is administered and written by Tim Ayres. Tim Ayres is a licensed REALTOR® with Royal LePage Coast Capital Realty. Tim can be reached at 250-885-0512 or 250-642-6361. Questions? Suggestions? Visit the Contact Page and let me know.